Relief allows taxpayers to settle overdue tax debts by reducing their turnover for 2020 by 25%
Legislative amendments approved 29 April 2021 allow taxpayers to settle overdue tax debts by reducing their turnover for 2020 (compared against 2019) by 25%. Other legislative changes allow taxpayers to write off monetary and other penalties for value added tax (VAT) purposes.
Source KPMG
Latest Posts in "Cyprus"
- Cyprus VAT Guide 2025
- Cyprus Extends VAT Filing Deadline to August 27 Due to Tax Portal Downtime
- Cyprus Amends VAT Rules for Virtual Events: Customer Location Determines Taxation from 2025
- EU Initiates Infringement Procedure Against Cyprus for Incomplete VAT Directive Transposition
- EU Initiates Legal Action Against Cyprus and France for Failing to Implement Key Customs Systems
